Plug-in hybrids reached record sales in 2023, with more than 250,000 vehicles sold, or about 20% of total plug-in vehicle sales, according to the Department of Energy.
Last year saw strong sales for EVs as well, which surpassed one million units for the first time. The combined market share of hybrids, plug-in hybrids, and EVs rose to 16.3% of total light-duty vehicle sales in the U.S., up from 12.9% in 2022.
Plug-in vehicle sales by calendar year, 2010-2023 (via U.S. Department of Energy)
Yet by themselves, plug-in hybrids still haven’t reached 2% of new-car sales. With the price positioning of plug-in hybrids no longer as favorable versus hybrids in 2023—especially without the EV tax credit—it’s cause to wonder whether there is a lot more demand for them.
Some automakers seem to think so. The Energy Department statistics were released shortly after a report that General Motors…
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